Second Home Investment

I wanted to share with you about a nice investment/income stream that my husband and I have invested in with some friends of ours.  We own a vacation home on the Inner Banks of North Carolina, right outside of a sailing village called Oriental.  We have owned it just over a year now, and have a fabulous rental manager there who helps us with our guests, and provides many wonderful concierge services for them to enhance their stay.  We rent by the night (with a 2 night minimum), by the week, or perhaps stay the whole month!  The area is wonderful, as there is sailing, fishing, kayaking, swimming, golf, shopping, and of course eating and relaxing!  People come from all over the world to enjoy the sailing here, as well as bring their kids to the famous Camp Sea Gull and Camp Seafarer.   You can also hop on the ferry and be in the Outer Banks in no time for sightseeing and shopping!

Our rentals have become increasingly steady as the word is getting out about the area, as well as our fabulous new waterfront cottage.  To find out more about our cottage or to check availability and rates please check us out on line at www.cribbscove7.com.

Investing in properties that you can enjoy as well as rent and provide an income rental stream is a great way to diversify your wealth portfolio.  To understand how to purchase and own properties such as this, contact us at kjpremier@atproperties.com and start investing today.

Short Sales and Foreclosures, a good idea?

Many people think of these buzz words today as an opportunity to “get a deal,” or simply make some quick equity when looking to purchase a property.  However, contrary to what one may think, these types of transactions may be much more difficult than originally believed.  If you’re a first time buyer, you may want to consider these points….

~You need to have your financial ducks in a row.  Often times, when banks are dealing with distressed properties, they want the new buyer to be finiancally perfect on paper.  With lending laws tightening, when dealing with these types of properties, you need to have your credit in top shape, as well as a strong down payment.

~Be prepared to play the waiting game.  When making an offer on a foreclosure or short sale, be prepared to wait weeks even months for a response from the bank.  Depending on what stage the property is in, a bank may or may not be willing to jump on the first offer it recieves.

~Keep a little cash on hand.  While in Chicago, it is customary to move into a new place with all the appliances there and installed, with distressed properties, oftentimes, the appliances, window coverings, even light fixtures, have been removed and will need replacing.  In addition, the property could most likely need substantial renovating or repair.

~Bidding wars.  Banks will oftentimes underprice a house, or ask for what is owed, and this could result in multiple offers.  Just because you are paying more than the bank is asking, doesn’t mean you’re overpaying.  Have a good agent.  Know the market.  Sometimes paying a few dollars more, could mean you get the house, and instantly gain thousands in equity.

These are just a few things one should think about before moving forward with a foreclosure or short sale.  With the proper guidance, and patience, these types of transactions could be profitable.  To find out more about how to navigate through this ever changing market, contact your Real Estate experts at kjpremier@atproperties.com.

Make your money up on the buy!

Everyone has heard the doom and gloom about the Real Estate market.  In my opinion the market is just adjusting and mark my word it will start to rise again this Spring.  More than ever in this type of market you need a great Real Estate agent.  You also need to adjust your strategies for buying and selling to fit your market’s conditions. This is exactly what The KJ Premier Real Estate and Home Services Team has done.  We are helping our clients successfully navigate through this Real Estate market by finding innovative ways to overcome different obstacles that are being presented to both buyers and sellers.

We have helped clients who are both buying and selling in this market to focus on making their money up on the buy.  One way our Real Estate team has done this is to target builder’s spec homes or gut rehabs.  Many times builders have a lot more room to negotiate than the typical home seller.  Many builders are selling properties well below market value to reduce their inventory.  This is just one innovative way to capitalize on this adjusting market.  Contact us at kjpremier@atproperties.com to discuss how we can help you find success in this market.

Getting the Biggest Bang for your Buck when Remodeling

I have people ask me this question all the time, so I’ve decided to write a post, so that I can now just refer people here when asked.  I am a huge believer in do-it-yourself projects, or if you have zero handyman in you (or direct access to one), then hire someone to do it.  The thing is when people are looking to buy, a home that looks like a project or that needs a decent amount of rehab scares people away.  With that being said, you can usually find these properties at a little bit better price compared to ones that are already move in, picture perfect.  Plus, the upside of having done the work yourself is that you stand to make a nice little profit in the end when you go to sell.  But, how do you know what to tackle first?  I will give you a quick outline to consider before you start hammering away at your next home makeover.

Now, depending on what type of home you have and what area of the country you live, these suggestions will vary.  However, in downtown Chicago, in a condo high rise, most people will know that kitchens and baths sell a unit.  And surprisingly enough, on a nation as a whole, a kitchen remodel is also one of the top things to tackle.  Recovering about 83% value when reselling, a custom, modern kitchen should be high on your priority list.  If you’re in Chicago and reading this, move then on to your bathroom, which should be done in neutral, waterproof stone, that has a timeless, clean look to it.

If you own a home, or something other than a condo, or attached living, most of the other biggest bang for your buck comes when considering the outside of your home.  An upscale siding replacement, the addition or upgrade of an outdoor deck, and a window replacement were all 3 huge return winners when reselling.

On the flip side the bottom three projects which give remodelers the least return on dollars spent was, an office remodel, installing a back-up power generator, and adding a mid-size sun room.  Again, one must consider the market, other homes in the area, and what is commonplace in your region, city, and neighborhood.

For additional tips and more info on do-it-yourself projects, and remodeling, feel free to contact us at: kjpremier@atproperties.com.

My Family’s Best Kept Secret!

My Family’s best kept secret is Lake Carroll in Lanark, Illinois.  We have enjoyed 24 years of watersports and fun in the sun at Lake Carroll.  Located just 135 miles from Chicago, 125 miles from the Western Suburbs and 55 miles from Geneva, IL. Lake Carrol is a four season second home escape that truly has something for everyone.  The private 636 acre lake has over 22 miles of shoreline and is home to over 20 species of fish. The lake is enjoyed by many wake board, tube, and water ski fans. If you like swimming, there is a sandy beach located adjacent to the full service marina along with an outdoor and indoor pool. The activities on and near Lake Carroll vary throughout the seasons. Some of the more popular amenities include: The Ski Hill, 18 Hole Golf Course, Clubhouse, Campground, Lodge, and Equestrian Facility. 

At this time there are wonderful deals to be found in the second home market.  Please let Kelly and I know if we can help you find a great second home at Lake Carroll.  If Lake Carroll isn’t a perfect fit for you, an extended member of KJ Premier Team, Mary Anne Simmons is sure to help you find your dream second home.  She is a Luxury Second Home Specialist who is licensed in 6 different states (Florida, Kentucky, South Carolina, North Carolina, Tennesseeand Alabama.)  Let The KJ Premier Real Estate and Home Services Team help you find your “best kept secret.”

Green Machine

The Green craze is a growing phenomenon in the Real estate industry.  More and more developers are striving to incorporate green technology and many are even going so far as to be become certified by the NAHB (National Association of Home Builders) as a Certified Green Professional.  By constructing homes that are qualified energy efficient, home builders are even receiving Tax credits.  From bringing your canvas tote to the grocery store, to driving in your hybrid car, or shopping the local farmers market for organic produce, there are ways that you too can become green.  While many of us live in older homes, from earlier in the decade or ancient ones like my home, which was built in 1906, there are ways to live green, and make your home more appealing for that future green buyer.  Here are just a few to consider implementing in your daily life.

~Paint the Town Red!~When painting in your home, use low or zero volatile organic compounds (VOC) paint.  The higher the VOC-the more toxic.

~Floor me~When remodeling a kitchen or bath, look into a more earth friendly flooring option.  Bamboo, cork, recycled rubber floors, and reclaimed hardwood are all great green options.

~Landscape Love~Looking to freshen up the outdoor area around your home?  Take a few extra minutes and research local plants and vegetation to the area, that will live through your changing climate and require less water.

~Light the way~And of course, the easiest way to start being Green is changing out the light bulbs in your home.  Compact Fluorescent light bulbs save energy!  If every American home replaced just one light bulb with an Energy Star qualified bulb, we would save enough energy to light more than 3 million homes for a year, more than $600 million in annual energy costs, and prevent greenhouse gases equivalent to the emissions of more than 800,000 cars.
For more helpful green tips, feel free to contact us at: kjpremier@atproperties.com.

Outside Please~at ZED451

It’s summertime in Chicago, and of course, we must take advantage of the quick 3-4 mos. of fabulous weather!  I wanted to comment on a recent trip to a new joint called ZED451. It’s located in the trendy River North Neighborhood, amidst the new, glass highrises, and expensive, old Brownstones.  I was having a quick drink and appetizers with some co-workers, and arrived to the posh new spot, only to be stopped at the door, by a scrawny guy telling me that to get up to rooftop I must “wait here.”  Here before me was a line (it was only about 7pm on a Friday night~at a steakhouse mind you) that was already about 15 deep.  My 2 friends and I were meeting some colleuges already atop the new resturant, and we tried to tell this to the bouncer, but it didn’t matter.  We were to wait roughly 35 minutes, with the other poor souls in front of us, to experience this new heavenly oasis.  By the time we were finally let upstairs, I began to wonder what the wait was for as the patio seemed about half its capacity.   The service was slow, and the crowd was decent at best.  The plush couches and fancy cocktails were nice, but after I finally got my drink and chatted it up for an hour, I decided to spend the rest of the evening in my cozy backyard with immediate service and a place to put my feet up.  Hopefully this new hot spot will ditch the pretentious line outside, and with time, improve their service.

Annual Client Appreciation Party

What a great day for a Race!  We had a wonderful day this past Sunday at Arlington Race Track, as we honored our clients for their business and referrals.  As we  picnicked under our tented pavilion we had a lovely time, as people cashed in on the ponies, and on other fun events throughout the day.  The weather was perfect, and the company was even better.  As we look to make Arlington Park an annual event, we hope to see you all there next year.  Thanks for your continued business and thinking of the KJ Premier Real Estate Team for all your Real Estate needs.  Remember the highest compliment we can receive  is a referral from your friends, family, or co-workers.

View Pictures : http://picasaweb.google.com/kjpremierrealestate/Arlington